Taysha Gene Therapies (NASDAQ:TSHA) Stock Price Up 7.7% After Analyst Upgrade

Taysha Gene Therapies, Inc. (NASDAQ:TSHA) was up 7.7% during trading on Tuesday after BMO Capital Markets raised their price target on the stock from $10.00 to $14.00. BMO Capital Markets currently has an outperform rating on the stock. Taysha Gene Therapies traded as high as $7.06 and last traded at $7.0350. Approximately 926,466 shares were traded during trading, a decline of 66% from the average session volume of 2,685,626 shares. The stock had previously closed at $6.53.

Other analysts also recently issued research reports about the stock. Citigroup restated an “outperform” rating on shares of Taysha Gene Therapies in a research report on Tuesday. Citizens Jmp lifted their price target on shares of Taysha Gene Therapies from $8.00 to $11.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Wall Street Zen cut shares of Taysha Gene Therapies from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Truist Financial upgraded shares of Taysha Gene Therapies to a “strong-buy” rating in a research note on Wednesday, March 25th. Finally, Chardan Capital reiterated a “buy” rating and set a $12.00 target price on shares of Taysha Gene Therapies in a research report on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Taysha Gene Therapies currently has an average rating of “Buy” and an average target price of $12.38.

Insider Activity at Taysha Gene Therapies

In related news, insider Sukumar Nagendran sold 200,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $4.46, for a total value of $892,000.00. Following the completion of the sale, the insider owned 1,136,410 shares in the company, valued at $5,068,388.60. This represents a 14.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Taysha Gene Therapies

Institutional investors have recently added to or reduced their stakes in the stock. Vestal Point Capital LP increased its holdings in shares of Taysha Gene Therapies by 150.0% in the fourth quarter. Vestal Point Capital LP now owns 13,750,000 shares of the company’s stock valued at $75,625,000 after purchasing an additional 8,250,000 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Taysha Gene Therapies during the 2nd quarter worth $11,178,000. Barclays PLC lifted its stake in shares of Taysha Gene Therapies by 1,042.8% in the 3rd quarter. Barclays PLC now owns 5,148,112 shares of the company’s stock worth $16,834,000 after acquiring an additional 4,697,611 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Taysha Gene Therapies in the 4th quarter worth $20,471,000. Finally, State Street Corp boosted its holdings in shares of Taysha Gene Therapies by 49.1% in the fourth quarter. State Street Corp now owns 10,790,084 shares of the company’s stock valued at $59,345,000 after acquiring an additional 3,553,619 shares in the last quarter. Institutional investors and hedge funds own 77.70% of the company’s stock.

Taysha Gene Therapies Trading Up 7.7%

The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -18.54 and a beta of 1.19. The business’s 50 day moving average price is $5.98 and its 200-day moving average price is $5.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 14.04 and a quick ratio of 14.04.

Taysha Gene Therapies (NASDAQ:TSHA) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Equities analysts forecast that Taysha Gene Therapies, Inc. will post -0.5 EPS for the current fiscal year.

About Taysha Gene Therapies

Taysha Gene Therapies, Inc (NASDAQ: TSHA) is a clinical-stage biotechnology company focused on developing gene therapies for rare monogenic diseases of the central nervous system. Using a proprietary adeno-associated viral (AAV) vector platform, the company engineers novel capsids and regulatory elements to optimize delivery and expression of therapeutic genes. Its pipeline features lead programs such as TSHA-102 for GM2 gangliosidoses (Tay–Sachs and Sandhoff diseases), TSHA-101 for GM1 gangliosidosis and TSHA-103 for aromatic l-amino acid decarboxylase (AADC) deficiency, alongside earlier-stage candidates targeting other life-threatening pediatric CNS disorders.

Founded in 2019 and headquartered in Dallas, Texas, Taysha Gene Therapies completed its initial public offering in May 2021.